{"id":155299,"date":"2022-07-06T11:06:12","date_gmt":"2022-07-06T15:06:12","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=155299"},"modified":"2022-07-06T11:34:12","modified_gmt":"2022-07-06T15:34:12","slug":"central-bank-records-net-loss-of-49-1-million-for-the-year-ended-31-march-2022","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/central-bank-records-net-loss-of-49-1-million-for-the-year-ended-31-march-2022\/","title":{"rendered":"Central Bank Records net loss of $49.1 million for the year ended 31 March 2022"},"content":{"rendered":"
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The Eastern Caribbean Central Bank (ECCB) has published its 2021-2022 Annual Report and Statement of Accounts for the financial year ended 31 March 2022.<\/p>

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The Report, which was published on 30 June, reveals that the Bank recorded a net loss of $49.1 million for the year ended 31 March 2022 compared to a net profit of $25.2 million in the previous financial year.<\/p>\n

The net loss for the year was largely driven by losses on foreign investment securities combined with a decline in interest income earned on foreign reserve assets, as interest rates globally remained at historically low levels over the year.<\/p>

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The Governor of the ECCB, Timothy N. J. Antoine said, \u201cthe current state of the global economic and geopolitical environment can be characterised as unprecedented and complex and the economies of the Eastern Caribbean Currency Union (ECCU), like the rest of the world, felt the weight of this difficult environment during the 2021\/2022 financial year\u201d.<\/p>

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He said, despite the weak global financial environment which resulted in the ECCB\u2019s first
\nloss-making year in six years, the Bank continues to manage the reserves prudently thereby maintaining the strength and stability of the EC dollar.<\/p>\n

Governor Antoine says that the 2022\/2023 financial year opened with even more challenges than the previous year did and this reality will shape the Bank\u2019s direction for the new year.<\/p>

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\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

The Eastern Caribbean Central Bank (ECCB) has published its 2021-2022 Annual Report and Statement of Accounts for the financial year ended 31 March 2022. The Report, which was published on 30 June, reveals that the Bank recorded a net loss of $49.1 million for the year ended 31 March 2022 compared to a net profit […]<\/p>\n","protected":false},"author":3,"featured_media":25439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-155299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCentral Bank Records net loss of $49.1 million for the year ended 31 March 2022 - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/central-bank-records-net-loss-of-49-1-million-for-the-year-ended-31-march-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank Records net loss of $49.1 million for the year ended 31 March 2022\" \/>\n<meta property=\"og:description\" content=\"The Eastern Caribbean Central Bank (ECCB) has published its 2021-2022 Annual Report and Statement of Accounts for the financial year ended 31 March 2022. 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